|Party General Secretary and President Nguyen Phu Trong meets with President of the Russia Federation V. V. Putin during his official visit to Russia in 2018.
In the messages, they described this as a significant event, marking a new development phase in the two countries’ relations.
After more than two decades, the ties have been elevated to a new high, with cooperation consolidated and enhanced in the fields of politics, economy, trade, investment, defence, security, education and training, science and technology, culture and tourism, among others.
The two leaders expressed their hope that the Vietnam-Russia traditional friendship and comprehensive strategic partnership will be further deepened for the benefit of the two nations as well as for regional and global peace, stability and development.
Vietnam and Russia established a strategic partnership in 2001 and upgraded it to a comprehensive strategic partnership in 2012.
The political relations have continuously been solidified with frequent mutual visits and meetings at all levels and through all channels.
Bilateral trade enjoyed a strong surge as the Eurasian Economic Union (EAEU)-Vietnam Free Trade Agreement (FTA) took effect in October 2016. The effective implementation of the FTA is expected to help the two nations realise the target of 10 billion USD in two-way trade in the coming time.
Russia currently accounts for more than 90 percent of EAEU-Vietnam trade revenues. Vietnam’s major export items to Russia include electronic products, garment-textiles, footwear, aquatic products and coffee, among others.